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Media

Time Inc. wields a heavy ax in latest round of cutbacks

By
Keith J. Kelly
Published Jan. 23, 2015, 10:37 p.m. ET

Publishing giant Time Inc. has axed the editor and publisher at All You and sacked at least 12 staffers at Sports Illustrated and six at InStyle in a new round of cutbacks late this week.

Even top money-maker People was said to have lost at least one person.

At All You, editor Nina Willdorf and Publisher Suzanne Quint were let go. A new group publisher, Greg Schumann, will take over All You duties.

Sports Illustrated Director of Photography Brad Smith told the National Press Photographers Association website that the cuts at the sports weekly included all six staff photographers.

“There was a decision made through the company to restructure various departments, including Sports Illustrated. Unfortunately, economic circumstances are such that it has cut the six staff photographers.”

The move to cut photographers little more than a week before the Super Bowl was particularly surprising to insiders.

At least six other SI people were cut — including two senior editors, some copy staffers and two editors on SI for Kids, according to Capital New York.

Despite the deep cuts at the title, Time Inc. will not allow the SI brand to be deflated, a spokesman said.

“SI has been one of the most aggressive brands in the industry in transforming its business approach and will continue to adjust and support its workforce accordingly,” he said.

Time Inc. was spun off from Time Warner in June and CEO Joe Ripp has been trying to figure out how to offset big declines in its core print properties — especially on weekly magazines — with new digital initiatives.

“Since Joe Ripp became CEO, Time Inc. has been fundamentally re-engineering our business, including rightsizing in some areas and investing in others,” said a spokeswoman. “We are in a constant state of recalibration.”

Earlier this week, Time Inc. was the lead investor in a new round of financing that raised $6 million for Keaton Row, a 2-year-old online fashion marketplace that is expected to help InStyle.

Time Inc. shares closed Friday down 1.5 percent, at $24.70, not far off its high point, $25.26, reached back in July.